KPMG has admitted that it misled the industry watchdog over its audit of the collapsed Carillion.
In a statement released on the first day of a five-week disciplinary tribunal over the behaviour of the firm and six former employees, UK chief executive Jon Holt said it was “clear” that “unacceptable” misconduct had occurred.
The tribunal yesterday heard allegations that former KPMG accountants had created fake documents to mislead regulators about work completed during their audit of Carillion.
